The parallel market rate of the naira was N473 to the dollar, same rate it traded for on Friday, November 25, at the foreign exchange market.
The Nigerian currency also traded at the rate of N585 to a British Pound Sterling, at the Parallel market, while it exchanged at N505 to the Euro.
Meanwhile, the Naira, on Monday, remained stable at the official interbank or Spot FX market, trading at N305.25 to the U.S Dollar, same rate it traded for on Friday, November 25.
According to traders at the foreign exchange, forex market, scarcity of the greenback has made the Nigerian currency close flat at both the parallel and interbank segment of the market.
The market in recent times has seen a major shakeup after operatives of the DSS raided the market. Traders have been walking on eggshells as the naira maintains a dismal performance.
In addition, the Central Bank of Nigeria, CBN, has thrown its weight behind efforts of DSS operatives to further stop activities of illegal currency traders.
